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China and the U.S. might not be in th eir best relationship nowadays, but that doesn’t mean BMW will give up its sales goals. BMW will export its first full-electric SUV, called the iX3, to global markets after it goes into production in 2020 at its joint-venture plant in China. The iX3 project makes BMW the first major luxury-car maker to ship high-tech vehicles from China, in a sign consumers no longer equate the country with cheap products. It positions the Shenyang site to supply SUVs to the U.S., the second-biggest market for BMW, even with the question of higher Ame...
Courtney Hammons and her husband pulled into a church parking lot in Brentwood, Tenn., near Nashville on a Sunday afternoon this month to meet the seller of a 2007 GMC Yukon they saw advertised online. The couple were not worried about being robbed or becoming victims of the shenanigans that can happen with a vehicle purchase that originates from an online classified ad. They had a reason for being at ease: The ad that the couple responded to was posted on Facebook via a new feature, which the social media giant quietly rolled out last fall. One analyst who tracks online advertising...
As U.S. auto sales have peaked, competition to finance car loans is set to intensify and drive increased credit risk for auto lenders. Analysts say that that the combination of plateauing auto sales, growing negative equity from consumers and lenders' willingness to offer flexible loan terms is a significant credit risk for lenders. Motor vehicle sales have boomed in the years since the Great Recession. U.S. sales of new cars and trucks hit a record annual high of 17.55 million units in 2016. It is expected that U.S. new vehicle sales will decline slightly to 17.4 million units ...
U.S. light vehicles from the 2016 model year will be the first to fall short of federal fuel economy targets in more than a decade, according to a new projection from regulators that could buttress a push by automakers to ease efficiency standards. The National Highway Traffic Safety Administration forecasts that 2016 models will average 32.1 miles per gallon, below the target of 32.8. The agency forecasts another shortfall in model year 2017 of 31.8 miles per gallon compared to a projected target of 33. The U.S. fleet has exceeded industrywide fuel economy targets every year since ...
Major automakers are seizing on the infancy of President-elect Donald Trump’s administration to mount a push to ease regulatory headaches faced under President Obama. In a letter to Trump’s White House transition team today, the Alliance of Automobile Manufacturers proposed that the new administration pause a key step in the ongoing midterm evaluation of the Obama administration’s 2025 fuel economy and greenhouse rules until Trump’s administration can “lead efforts” with regulators and automakers on “a pathway forward” for the final four ye...
